Use the following amortization chart:
selling price of home$ 90,000
down payment$...
Business, 09.11.2019 04:31 lilpeepxliltracy
Use the following amortization chart:
selling price of home$ 90,000
down payment$ 5,000
principal (loan)$ 85,000
rate of interest5.5%
years30
payment per $1,000$ 5.68
monthly mortgage payment$ 482.80
30
assume the interest rate rises to 7%. what is the total cost of interest with the new interest rate? (use table 15.1). (do not round intermediate calculations. round your final answer to the nearest dollar amount.)
total cost of interest$
Answers: 3
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